Reliance Infra Q3 posts 10.16 per cent rise

Mumbai (Agencies): Reliance Infrastructure on Monday registered a 10.16 per cent rise in net profit for the quarter ended December 31, 2010, to Rs 405.25 crore.

The firm had reported a net profit of Rs 367.87 crore for the same period last year, Reliance Infrastructure said in a filing to the Bombay Stock Exchange (BSE).

Total operating income of the company rose to Rs 3,744 crore in the October-December quarter from Rs 3,287 crore in the corresponding quarter a year ago, it stated.

In a separate filing to the BSE, the company claimed it has received board nod to buy back its own shares for an aggregate amount of up to Rs 1,000 crore at a price not exceeding Rs 725 per equity share.

The buy-back will be made from the open market through the stock exchanges, it claimed.

Meanwhile, shares of the company were trading at Rs 631 apiece on the BSE on Monday, up 2.48 per cent from the previous close.